BTSIV, LLC

It's challenging to put into words the roller coaster ride that is building a company from the ground up. There are many hats to be worn, many needs to be met, and many expectations to exceed.
For our investors, I want to create a highly profitable return on their investment; for employees I want to create a positive work environment that allows them to meet career goals while caring for their families; for our millions of local business owners I want to create the very best platform to help them do what they do best – to support the Main Street economy of our country… And for me, I want to know that I'm doing all that I can, everyday to make sure these things are in the works.  We all wanted to take a risk and do something different. We still use the slide from the first venture deck in every board meeting to remind us of what we wanted to do: BRING MILLIONS OF LOCAL BUSINESSES ONLINE TO CONNECT WITH LOCAL CONSUMERS.MerchantCircle started out with Wayne and I, and an idea to help local business owners better utilize the power of the web and gain more customers through greater visibility. To date, we've raised $12 million dollars and have quickly grown to over 1.6 million users and 40 employees. One of the first milestones was the first revenue check... then, a cash flow positive month. THEN, doing more revenue in our history than revenue we raised. And then another major milestone was more annual revenue over the amount we raised. We're a profitable, high growth company with loyal users and a dedicated team. And we've got a fantastic, very loyal user base. The local business owners we serve have kept us fired up and motivated to continue building better products, empowering them to find greater success and more local customers.I could read every book recommended, every white paper ever published, and every case study ever produced… but nothing could have really prepared me for the real-life experience of being a part of an organization like this one, to which I am so deeply committed. This is not my first start up, and it won't be my last, but I am looking forward to taking Reply! all the way to 5M local merchants and 300M consumers over the next few years.
Today, I'm proud to announce that we've taken another step towards realizing our vision for the local web. MerchantCircle is now part of Relpy! Inc. I will assume the role of President of the Reply! Media Division and I will carry out our vision of bringing local consumers together with locally-targeted businesses on a massive scale.  There is much work left to do and I believe this merger will mean great things for local merchants, local consumers and for our investors. Here’s what a couple of our investors have to say about the deal:
"As an investor, I am drawn to companies with the power to transform large addressable markets", says Peter Horan, Internet executive and venture investor.  "That's why I led the investment in MerchantCircle while with IAC, and why I'm excited to continue on as a board member of Reply!  This new organization has the scale, the leverage and the momentum to become an indispensable marketing platform for millions of local businesses.""I'm impressed by the business Payam and the Reply! team has built, and the combined company has the potential to become a dominant local advertising platform", says Mark Menell, a Venture Partner at Maveron, LLC and the initial investor in MerchantCircle. "As the first investor in MerchantCircle who made a bet when we invited Ben to be an EIR (Entrepreneur in Residence) at Rustic Canyon, I can say it's been an incredible ride since Ben and I first incubated the company in our conference room back in 2004.  This is a big win for the MerchantCircle team and an even bigger win for local businesses and consumers."   The journey to this place has been exhilarating. There have been fantastic celebrations, difficult challenges, and incredible growth. And it's not over. As I focus on the many opportunities ahead, I feel confident that this powerful combination will result in many things- for our investors, an even more profitable return on investment; for our employees, and even more positive, exciting work environment, and for our users, even better resources to help grown and build their own local businesses.I deeply appreciate everyone who has helped make MerchantCircle the thriving organization it is today.With many thanks and A ROLL TIDE ROLLBen T. Smith IV